2012-03-15T13:44:55-05:00 2011-06-30 BURR PILGER MAYER INC 600 CALIFORNIA STREET SUITE 1300 SAN FRANCISCO CA 94108 990 2010-07-01 943204136 MENLO COLLEGE MENL 6505433753 1000 EL CAMINO REAL ATHERTON CA 94027 DR JAMES KELLY 6505433753 2012-03-13 1 MAGA KISRIEV 4154215757 2010 2016-02-24 21:20:13Z DR JAMES KELLY 1000 EL CAMINO REAL ATHERTON CA 94027 46888394 0 X WWW.MENLO.EDU X 1994 CA TO DEVELOP FUTURE LEADERS THROUGH A LIBERAL ARTS-BASED BUSINESS EDUCATION THAT INTEGRATES ACADEMIC STUDY AND FIELDWORK IN A SILICON VALLEY ENVIRONMENT UNMATCHED IN ITS POTENTIAL FOR INNOVATION. 11 11 359 13 0 0 29925872 946752 23352966 24266194 -23662 1258925 976491 253155 54231667 26725026 7735115 8150570 0 0 7729575 11699850 0 0 68270 11369164 9748479 26833854 29598899 27397813 -2873873 71251742 69802024 12137306 13954049 59114436 55847975 X MENLO COLLEGE WAS FOUNDED IN 1927 AS A COMPONENT OF MENLO SCHOOL AND COLLEGE. ON JULY 1, 1994, THE COLLEGE COMMENCED OPERATIONS AS A SEPARATE, INDEPENDENT, NONPROFIT, COEDUCATIONAL INSTITUTION OF HIGHER EDUCATION. THE COLLEGE IS A SMALL, INNOVATIVE, PRIVATE RESIDENTIAL UNDERGRADUATE COLLEGE OF MANAGEMENT THAT INTEGRATES PROGRAMS IN BUSINESS, MASS COMMUNICATION, AND LIBERAL ARTS INTO A UNIQUE PARTICIPATORY LEARNING COMMUNITY. THE MENLO COLLEGE COMMUNITY'S SHARED GOAL IS TO PREPARE STUDENTS TO BE RESPONSIBLE CITIZENS AND PROFESSIONALS, CRITICAL THINKERS, AND EFFECTIVE COMMUNICATORS WHO CAN MANAGE RESOURCES RESPONSIBLY, SOLVE PROBLEMS, AND MAKE DECISIONS ETHICALLY WITH A GLOBAL PERSPECTIVE. FUNDING SOURCES GENERALLY INCLUDE TUITION AND FEES, RESIDENTIAL FEES, INVESTMENT INCOME, GIFTS, GRANTS AND BEQUESTS. 1 0 18466178 8150570 24266194 THE COLLEGE PROVIDES INSTRUCTION TO APPROXIMATELY 600 FULL TIME STUDENTS IN A FOUR-YEAR UNDERGRADUATE MANAGEMENT PROGRAM. EXPENDITURES INCLUDE DORMITORY, DINING, STUDENT UNION, AND HEALTH SERVICES. 18466178 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 68 0 1 359 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X DR JAMES KELLY 6505433744 1000 EL CAMINO REAL ATHERTON CA 94027 JULIE FILIZETTI 1.00 X 0 0 0 CHARLES J KEENAN III 1.00 X 0 0 0 ANDREW C WOODARD 1.00 X 0 0 0 DAVID C IRMER SNR 1.00 X 0 0 0 HOWARD DALLMAR 1.00 X 0 0 0 JAMES T REA 1.00 X 0 0 0 JOHN SHENK 1.00 X 0 0 0 KHALID ALIREZA 1.00 X 0 0 0 KRISTINE THAGARD 1.00 X 0 0 0 MICAH KANE 1.00 X 0 0 0 WILLARD DUNLAP 1.00 X 0 0 0 TIMOTHY GARY HAIGHT 40.00 X 769143 0 99726 JAMES KELLY 40.00 X 213841 0 51399 CATHERINE REEVES 40.00 X 143498 0 38505 JAMES WOOLEVER 40.00 X 101547 0 18379 NILO VENTURA 40.00 X 76054 0 16085 DAVID PLACEY 40.00 X 145149 0 22303 SOUMENDRA N DE 40.00 X 129561 0 20900 JAN JINDRA 40.00 X 123223 0 20330 DALE HOCKSTRA 40.00 X 120521 0 20087 RAAGINI ALI 40.00 X 108349 0 18991 1930886 0 326705 19 0 1 0 SODEXHO INC & AFFILIATES 1000 EL CAMINO REAL EL CAMINO REAL CA 94027 FOOD SERVICES 1673831 THE HARTFORD 400 EXECUTIVE BLVD SOUTHINGTON MA 06489 GENERAL INSURANCE 245813 ABLE BUILDING MAINTENANCE CO BOX 3900 SAN FRANCISCO CA 94139 CAMPUS CLEANING SERVICE 242985 TRUEGREEN LANDCARE PO BOX 100186 PASADENA CA 91189 LANDSCAPING 175709 EXAFORT INC 2700 AUGUSTINE DRIVE250 SAN FRANCISCO CA 95054 TECHNOLOGY CONSULTING 168731 7 61358 885394 28004 946752 STUDENT TUITION 611600 19381035 19381035 AUXILIARY FEES 611600 4885159 4885159 24266194 245679 245679 21121221 20107975 1013246 1013246 1013246 66157 55393 10764 10764 OTHER REVENUE 900099 242391 242391 242391 26725026 24508585 0 1269689 8150570 8150570 1361641 563265 783676 14700 7893955 5327015 2549748 17192 588429 385715 200770 1944 1274661 596646 675563 2452 581164 415523 163989 1652 67326 33663 33663 104644 104644 62477 62477 208150 88080 120070 261018 234436 6570 20012 390417 185270 194829 10318 925904 925904 318377 279628 38749 9781 6831 2950 16490 16490 1878341 773528 1104813 524026 246313 277713 PROGRAM EXPENSES 2483972 2483972 FACILITIES AND OPERATIO 2346918 1049408 1297510 OTHER EXPENSES 150638 130287 20351 29598899 18466178 11064451 68270 1903822 1054671 1299974 494809 246405 9208992 10455423 79411 98303 158326 248161 40838677 10025570 31877814 30813107 27232782 25419309 295786 166671 71251742 69802024 384207 623422 10399294 12062422 1353805 1268205 12137306 13954049 X 51029166 47145716 1690143 2752602 6395127 5949657 59114436 55847975 71251742 69802024 X -2873873 -392588 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6867260 11388 1672689 266385 525959 7758993 6310220 13027 794013 250000 6867260 8318127 61415 -1694322 375000 6310220 0.08370 0.14950 0.76680 0 0 11215092 11215092 15835979 1390293 14445686 7700883 4393794 3307089 3772857 2522033 1250824 2313866 1719450 594416 30813107 ACCRUED SALARIES/PAYROLL TAXES 831773 ANNUITY RESERVES 216758 CAPITAL LEASE PAYABLE 219674 1268205 26725026 29598899 -2873873 339824 -732412 -392588 -3266461 18332506 339824 -8721580 -8381756 26714262 10764 10764 26725026 21598967 150638 150638 21448329 8150570 8150570 29598899 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: ENDOWMENT ASSETS INCLUDE THOSE ASSETS OF DONOR-RESTRICTED FUNDS THAT THE COLLEGE MUST HOLD IN PERPETUITY OR FOR A DONOR-SPECIFIED PERIOD(S) AS WELL AS BOARD-DESIGNATED FUNDS. THE COLLEGE EXPECTS ITS ENDOWMENT FUNDS, OVER TIME, TO PROVIDE AN AVERAGE RATE OF RETURN OF APPROXIMATELY 5 PERCENT ANNUALLY. ACTUAL RETURNS IN ANY GIVEN YEAR MAY VARY FROM THIS AMOUNT. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: EFFECTIVE IN FISCAL YEAR ENDED JUNE 30, 2010, THE COLLEGE BEGAN REVIEWING AND ASSESSING TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN AGAINST MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTES FOR FINANCIAL STATEMENT RECOGNITION. THE COLLEGE'S POLICY FOR EVALUATING UNCERTAIN TAX POSITIONS IS A TWO-STEP PROCESS. THE FIRST STEP IS TO EVALUATE THE TAX POSITION FOR RECOGNITION BY DETERMINING IF THE WEIGHT OF AVAILABLE EVIDENCE INDICATES THAT IT IS MORE-LIKELY-THAN-NOT THAT THE POSITION WILL BE SUSTAINED UPON AUDIT, INCLUDING RESOLUTION OF RELATED APPEALS OR LITIGATIONS PROCESSES, IF ANY. THE SECOND STEP IS TO MEASURE THE TAX BENEFIT OR LIABILITY AS THE LARGEST AMOUNT THAT IS MORE THAN 50% LIKELY TO BE REALIZED OR INCURRED UPON SETTLEMENT. BASED ON AN ANALYSIS PREPARED BY THE COLLEGE, IT WAS DETERMINED THAT THE TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN HAD NO MATERIAL EFFECT ON THE RECORDED TAX ASSETS AND LIABILITIES OF THE COLLEGE. THE ORGANIZATION APPLIED THIS GUIDANCE TO ALL TAX POSITIONS FOR WHICH THE STATUTE OF LIMITATIONS REMAINED OPEN (FISCAL YEARS ENDED SINCE JUNE 30, 2007) AND DETERMINED THERE WERE NO MATERIAL UNRECOGNIZED TAX BENEFITS AS OF THAT DATE. IN ADDITION, THERE HAVE BEEN NO MATERIAL CHANGES IN UNRECOGNIZED BENEFITS SINCE JULY 1, 2009. THERE HAVE BEEN NO RELATED TAX PENALTIES OR INTEREST, WHICH WOULD BE CLASSIFIED AS TAX EXPENSE IN THE STATEMENT OF ACTIVITIES. AS THE ORGANIZATION IS EXEMPT FROM TAXATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS GENERALLY NOT SUBJECT TO FEDERAL OR STATE INCOME TAXES, THE ADOPTION OF THIS GUIDANCE DID NOT HAVE A MATERIAL EFFECT ON THE ORGANIZATION'S FINANCIAL STATEMENTS. PART XI, LINE 8 - OTHER ADJUSTMENTS: ACTUARIAL CHANGE IN ANNUITY OBLIGATIONS 39,365. CHANGE IN VALUE FOR MOU FUNDS -84,416. RETURN OF PR DONOR FUNDS -525,959. FUNDRAISING EVENT -10,764. OTHER EXPENSES -150,638. PART XII, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS NETTED AGAINST TUITION ON GAAP FS -8,150,570. ACTUARIAL CHANGE IN ANNUITY OBLIGATIONS 39,365. RETURN OF PR DONOR FUNDS -525,959. CHANGE IN VALUE FOR MOU FUNDS -84,416. PART XII, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EVENTS 10,764. PART XIII, LINE 2D - OTHER ADJUSTMENTS: OTHER EXPENSES (RELEASED FROM TEMPORARY) 150,638. PART XIII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS NETTED AGAINST TUITION ON GAAP FS 8,150,570. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 MENLO COLLEGE INCLUDES IN ALL REGISTRATION MATERIALS THE FOLLOWING STATEMENT REGARDING EQUAL OPPORTUNITY AND ACCESS TO ITS PROGRAMS. THE SAME STATEMENT IS PUBLISHED ANNUALLY IN A NEWSPAPER OF RECORD AS FOLLOWS: "MENLO COLLEGE DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, NATIONAL ORIGIN, SEXUAL ORIENTATION, GENDER, HANDICAP (OR DISABILITY) OR AGE IN ANY OF ITS POLICIES, PROCEDURES, OR PRACTICES. THIS NON-DISCRIMINATION POLICY COVERS ADMISSION AND ACCESS TO PROGRAMS AND ACTIVITIES, TREATMENT AND EMPLOYMENT IN THE COLLEGE'S PROGRAMS AND ACTIVITIES." EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 STUDENT ATTENDING THE COLLEGE RECEIVE SUPPORTS IN A FORM OF SCHOLARSHIPS AND FINANCIAL AID FROM STATE AND FEDERAL GOVERNMENTS. STUDENT SRVS-LUAU 26039 26039 18075 6628 GOLF TOURNAMENT 37622 37622 5000 18940 2373 1 2496 2496 2546 1831 66157 66157 5000 39561 10832 55393 10764 1 INSTITUTIONAL SCHOLARSHIP 590 8150570 FMV OTHER INFORMATION: PART IV: MENLO COLLEGE REQUIRES FINANCIAL AID APPLICANTS SUBMIT EVIDENCE OF ELIGIBILITY AND MAINTAINS ONGOING RECORDS OF ATTENDANCE AND SCHOLASTIC ACHIEVEMENTS BY ALL RECEIPIENTS. X 1 1 X X 1 0 0 0 0 0 0 0 0 TIMOTHY GARY HAIGHT 372071 0 25000 0 372072 0 33486 0 66240 0 868869 0 0 0 JAMES KELLY 213841 0 0 0 0 0 19246 0 32153 0 265240 0 0 0 CATHERINE REEVES 143498 0 0 0 0 0 12915 0 25590 0 182003 0 0 0 DAVID PLACEY 145149 0 0 0 0 0 13063 0 9240 0 167452 0 0 0 SOUMENDRA N DE 129561 0 0 0 0 0 11660 0 9240 0 150461 0 0 0 PART I, LINE 1A CAMPUS HOUSING WAS PROVIDED TO THE PRESIDENT, FORMER PRESIDENT, VP ADVANCEMENT, CHIEF INFORMATION OFFICER AND THE DEAN OF STUDENT SERVICES, AS A CONDITION OF EMPLOYMENT. PART I, LINE 4A FORMER PRESIDENT HAIGHT WAS PAID A SEVERANCE PAYMENT EQUAL TO ONE YEAR BASE SALARY OF $372,072 ON 12/31/10. X 5 16581 ESTIMATED FMV X 3 470 FMV X CATERING/HOSTING EVENTS 3 8693 FMV X ACTION ITEMS 2 1960 FMV X AREA RUG 1 300 FMV 0 0 0 NEW PROGRAM SERVICES FORM 990, PART III, LINE 2 IN PARTNERSHIP WITH CITI BANK, MENLO COLLEGE DEVELOPED AND EXECUTED A UNIQUE, GROUNDBREAKING FINANCIAL LITERACY PILOT PROGRAM/CURRICULUM FOR HIGH SCHOOL SENIORS AND COLLEGE FRESHMEN, THAT, THROUGH ACADEMIC ASSESSMENT PROCESSES, IS NOW READY FOR REGIONAL REPLICATION. IN RESPONSE TO THE TREMENDOUS SUCCESS AND ACCLAMATION OF THIS PILOT, MENLO COLLEGE NOW REQUIRES THIS ONE-UNIT FINANCIAL LITERACY COURSE FOR ALL INCOMING FRESHMEN BEGINNING IN THE 2011-12 ACADEMIC YEAR. FORM 990, PART VI, SECTION B, LINE 11 BEFORE FILING FORM 990 IS DISTRIBUTED TO THE FINANCE COMMITTEE FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES ARE REQUIRED TO SIGN CONFLICT OF INTEREST FORMS ANNUALLY AT THE OCTOBER BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 15 COMPARABLE DATA WAS REVIEWED AND COMPENSATION AND BENEFIT PAYMENTS TO OFFICERS, DIRECTORS, AND EMPLOYEES WERE DETERMINED AND APPROVED BY THE BOARD AND CEO. FORM 990, PART VI, SECTION C, LINE 19 UPON WRITTEN REQUEST, THE ORGANIZATION WILL PROVIDE COPIES OF FINANCIAL STATEMENTS AND FILED TAX RETURNS. THE ORGANIZATION RELIES ON GUIDESTAR TO PUBLISH THEIR TAX RETURN ON THE INTERNET. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 339,824. ACTUARIAL CHANGE IN ANNUITY OBLIGATIONS 39,365. CHANGE IN VALUE FOR MOU FUNDS -84,416. RETURN OF PR DONOR FUNDS -525,959. FUNDRAISING EVENT -10,764. OTHER EXPENSES -150,638. TOTAL TO FORM 990, PART XI, LINE 5: -392,588. FORM 990, PART XII, LINE 2C. NO CHANGE IN THE AUDIT COMMITTEE'S OVERSIGHT PROCESS. MENLO SCHOOL AND MENLO COLLEGE 1000 EL CAMINO REAL ATHERTON CA 94027 941156656 HOLDS TITLE TO BUILDINGS USED BY MENLO SCHOOL AND MENLO COLLEGE. CA 501(C)(3) EXEMPT SELF 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 MENLO SCHOOL AND MENLO COLLEGE O 10017 FMV MENLO SCHOOL AND MENLO COLLEGE P 36098 FMV